Question to dealers

LovethoseIndians

One of the biggest complaints I have heard from several dealers regarding price guides is that the guides are "underpricing" MANY coins and its bringing hardship to some of them. One example was a 1922 Plain Lincoln that a dealer freind of mine was hunting down at FUN for one of his customers. This customer used a "Coins" mag price guide as was willing to pay $800 for a certified VF '22 Plain.

The problem was the dealer could not find one he could make a profit on at selling for that $800 figure. In fact he told me that he saw two coins fitting the MO at FUN and one was a PCGS VF-30 that he would have had to pay $1,000 for and the 2nd was a PCGS VF-20 that he would have had to pay $800 for.

Now the issue became that this customer thought the dealer was gouging him. This dealer does not do that...EVER. He just needs to be able to turn a 15-20% profit is all...This customer was not willing to pay $950 for a coin he expects to pay $800 for (based on guide prices).

Also the "greysheet" was always a tool for "dealers" and now since everyone is a freaking dealer even the grey can't keep up with demand...

Whats everyone's thoughts on this subject as I would be interested in seeing opinion

291fifth

My own opinion is that the price guides are further from reality, both high and low, than ever. The publishers of the guides have got to come to the realization that there is more to a price guide than following Morgan dollars and common gold!

kieferscoins

If the dealer is honest and like you say he did his best. If the collector won't step up and pay for coins or says no when you call him from a show, because he is thinking he is being gouged then I would stop looking for the guy. Thats a sure way to lose money.

Cameron Kiefer

LovethoseIndians

Cameron,

I agree with you...Thats what I told this dealer (stop buying for him). With Key coins one should expect to pay 10% higher than guide price RIGHT NOW in the current market trend